Credicorp (NYSE:BAP) Reaches New 1-Year High – Time to Buy?

Credicorp Ltd. (NYSE:BAP)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $191.58 and last traded at $188.56, with a volume of 25137 shares changing hands. The stock had previously closed at $188.23.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group boosted their price objective on Credicorp from $143.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, October 8th.

Credicorp Stock Up 0.1 %

The company has a 50-day moving average price of $177.66 and a 200 day moving average price of $169.91. The firm has a market capitalization of $15.01 billion, a PE ratio of 11.20, a P/E/G ratio of 0.62 and a beta of 1.14. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.02 and a quick ratio of 1.02.

Credicorp (NYSE:BAP) last announced its quarterly earnings data on Thursday, August 8th. The bank reported $4.49 EPS for the quarter, missing the consensus estimate of $4.64 by ($0.15). Credicorp had a net margin of 19.31% and a return on equity of 14.86%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Analysts forecast that Credicorp Ltd. will post 18.86 earnings per share for the current year.

Credicorp Cuts Dividend

The company also recently announced an annual dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 23rd were given a $2.9084 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a dividend yield of 3.8%. Credicorp’s dividend payout ratio is currently 55.07%.

Institutional Investors Weigh In On Credicorp

Hedge funds have recently made changes to their positions in the company. Sei Investments Co. lifted its position in shares of Credicorp by 3.9% in the first quarter. Sei Investments Co. now owns 178,776 shares of the bank’s stock worth $30,291,000 after buying an additional 6,779 shares in the last quarter. M&G Plc lifted its position in shares of Credicorp by 39.2% in the second quarter. M&G Plc now owns 33,329 shares of the bank’s stock worth $5,366,000 after buying an additional 9,383 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of Credicorp by 95.4% in the third quarter. Ritholtz Wealth Management now owns 6,977 shares of the bank’s stock worth $1,263,000 after buying an additional 3,406 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Credicorp by 81.9% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 10,357 shares of the bank’s stock worth $1,754,000 after buying an additional 4,662 shares in the last quarter. Finally, Inspire Investing LLC purchased a new stake in shares of Credicorp in the first quarter worth about $872,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

About Credicorp

Credicorp Ltd. provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Equity Management segments. The Universal Banking segment grants various credits and financial instruments to individuals and legal entities; and various deposits and current accounts.